Jane Street Group LLC Lowers Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Jane Street Group LLC decreased its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 406,587 shares of the company's stock after selling 97,690 shares during the quarter. Jane Street Group LLC owned about 0.28% of Adaptive Biotechnologies worth $2,437,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Adaptive Biotechnologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock valued at $64,236,000 after acquiring an additional 75,448 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock valued at $20,209,000 after purchasing an additional 489,555 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company's stock worth $16,098,000 after buying an additional 22,628 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 6,121.7% in the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after buying an additional 2,389,674 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Adaptive Biotechnologies by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock worth $9,622,000 after buying an additional 183,881 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

Shares of ADPT traded down $0.14 during mid-day trading on Wednesday, hitting $9.22. 103,279 shares of the company were exchanged, compared to its average volume of 1,568,524. Adaptive Biotechnologies Co. has a 1-year low of $2.99 and a 1-year high of $10.28. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -8.47 and a beta of 1.75. The company has a 50 day moving average of $8.11 and a 200-day moving average of $7.27.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. During the same period last year, the company posted ($0.33) EPS. The business's revenue was up 25.2% on a year-over-year basis. Research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kyle Piskel sold 10,320 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the sale, the chief financial officer now owns 269,010 shares of the company's stock, valued at approximately $1,877,689.80. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 99,107 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.44, for a total value of $836,463.08. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,747,356.44. This represents a 3.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 457,861 shares of company stock valued at $3,421,269 over the last 90 days. 6.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADPT. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Scotiabank increased their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.